For immediate release: Thursday 31 March 2005

IMA RESPONSE TO FSA DRAFT REGULATION ON SOFTING AND UNBUNDLING

IMA welcomes the FSA’s release of its consultation paper on the rule changes necessary to implement the approach to conflicts of interest in the purchase of execution and research. 

IMA will be looking closely at the detail, in particular the ways in which the views expressed by the FSA in their November Policy statement (PS04/23) are incorporated in the rules, and whether there have been any changes in the FSA’s thinking since November.

Mona Patel, Head of Communications at the IMA commented:

“We welcome the recognition given to work of the IMA, LIBA and the NAPF and their respective member firms in developing a market based solution to the issues raised by the FSA in CP176 in 2003. This next stage, consideration of the FSA’s proposed rule changes, is an important one which we must get right if we are to avoid unintended consequences.”

-Ends-

For further information, please contact:
Mona Patel, Head of Communications, IMA, 020 7831 0898

Out of hours contact:
Mona Patel, Head of Communications, IMA, 07834 089332